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Import substitution trend will help to keep the balance of payments surplus in Ukraine, - Alexander Sokolov, director of the analytical department, Pro-Consulting company. UKRINFORM
Development of import substitution programs help to keep the trend of growth in surplus balance of payments of Ukraine. This opinion was expressed by Alexander Sokolov, director of the analytical department of the Pro-Consulting company.
"With further development of import substitution programs - increase in volume of sales in overseas markets, search for alternative sources of energy and reduce of imports, as well as the revision of the customs policy - it could be expected that the trend of growth in balance of payments surplus will continue, which will have a positive impact on stability of the national currency exchange rate," - said expert.
According to the NBU, the current account surplus in Ukraine in February rose to nearly $ 1.3 billion and up to two months has reached $ 1.7 billion, compared with a deficit of $ 1 billion in the January-February 2012.
Sokolov noted that the growth of the balance of payments surplus reached due to reducing purchases of Russian gas too.
"In 2012,"Naftogaz" purchased from "Gazprom" 25 billion cubic meters of gas. This year it plans to reduce this amount to 18-20 billion cubic meters." - he said. In addition, during the first two months of 2013 imports of mineral resources has decreased by 30%, in comparison with the same period of 2012. "It is possible to reduce the surplus trade from minus $ 2.5 billion in 2012 to the minus $ 1.6 billion in 2013," - expert said.
Sokolov also said that along with the decrease of imports in January-February 2013 there is a trend of growth in exports. "Thus, the export of chemical products rose by 22.1%, Ukrainian food products - by 26% and electricity - by 39.3%," - expert said.
